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the italians are known for being big savers. privatizations of state entities such as, for instance, the post office and the train network. pauline, we're talking about cuts here. the total package was supposed to be 52 billion just a couple of days ago. now it has risen to in excess of 79 billion euros. we'll see what happens later on today in parliament. pauline? >> yes. i've already read, nina, politicians may take a pay cut by as much as 50%. 10 we'll see what happens. this is certainly a critical time for a country with sluggish growth but high debt. >>> coming up next on "world business today," first he lost a up in and then his bid for bskyb turned to custard, turned sour. now to top it all off, rupert murdoch is under scrutiny in the u.s. we'll bring you more details on that in just a moment. active naturals wheat formulas target and help repair damage in just 3 washes. for softer, stronger... ... hair with life. [ female announcer ] nourish plus. only from aveeno. >>> from cnn hong kong and rome, this is "world business
the italians are known for being big savers. privatizations of state entities such as, for instance, the post office and the train network. pauline, we're talking about cuts here. the total package was supposed to be 52 billion just a couple of days ago. now it has risen to in excess of 79 billion euros. we'll see what happens later on today in parliament. pauline? >> yes. i've already read, nina, politicians may take a pay cut by as much as 50%. 10 we'll see what happens. this is...
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" too big to jail as well. if you take that money from working people and say you're important enough to keep, you who are blue collar work in the factories, you aren't, you're not only gutting your manufacturing base at a time china is ready to pass us, you're also saying to them some citizens are more important than others and i fundamentally reject that. >> let's do real world play acting. you're the president right now, you're facing this holding on the debt ceiling right now, what would you do differently than this president or anybody else to solve this problem? >> first, the hypothetical doesn't work because i didn't go on a two year spending binge when i controlled everything. secondly i control cap and balance the republicans alternative to this and i add we have to have a balanced budget amendment submitted to the states. if you listen to the american public, they're very concerned about this and rightly so. they also never want to be in this position again, i would argue cut cap balance and long term
" too big to jail as well. if you take that money from working people and say you're important enough to keep, you who are blue collar work in the factories, you aren't, you're not only gutting your manufacturing base at a time china is ready to pass us, you're also saying to them some citizens are more important than others and i fundamentally reject that. >> let's do real world play acting. you're the president right now, you're facing this holding on the debt ceiling right now,...
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this but that's not the big point right now. the critical point is as moody's is warning as ben bernanke warned today and congress, the critical point is this country must not go into default on august 2nd. and they need to reach some minimal agreements to avoid that. that should not be hard to do. now, what they can get beyond that is really important, but it's not as urgently necessary as making sure we get this done. then we can move to the more moderate term crisis or the moderate crisis, moderate term crisis which is the huge deficits. we do have to solve those, but not before august 2nd. we have to get a deal to avoid a catastrophe on august 2nd. >> so nicole, for republicans tomorrow, do they need to change strategy given what happened today? or what do they do going into this meeting tomorrow? >> look, it was barack obama who stood in the rose garden just a few months ago and talked about -- when he signed into law the extension of the bush tax cuts he seemed to understand that raising taxes is not the right thing to do
this but that's not the big point right now. the critical point is as moody's is warning as ben bernanke warned today and congress, the critical point is this country must not go into default on august 2nd. and they need to reach some minimal agreements to avoid that. that should not be hard to do. now, what they can get beyond that is really important, but it's not as urgently necessary as making sure we get this done. then we can move to the more moderate term crisis or the moderate crisis,...
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big phone says it's taken steps but admits it's still a big problem. >>> for money news, let's go to joya dosh. i'm expecting a rough morning for stocks. how's it looking? >> it's actually looking pretty good. the futures are pointing to a higher open, which is a bit of a fresh start from earlier in the week. >> i want to ask people, don't think about ge so much, think about a small business person who really create a lot of jobs in this country. they're petrified right now. >> who are they scared of? >> look, what happens if the government doesn't roll over its debt? why would you invest into that? and if the budget deficit means super high tax rates for them, again, that to me is the piece that is missing. there has been bad new business generation, small businesses have gotten hurt coming out of this recession. >> all right. ali, what's happening here is that the clock is ticking. during one of the most tense meetings in washington last night between the president and lawmakers with moody's in the meantime has warned that its putting the u.s. credit rating on watch for a possible
big phone says it's taken steps but admits it's still a big problem. >>> for money news, let's go to joya dosh. i'm expecting a rough morning for stocks. how's it looking? >> it's actually looking pretty good. the futures are pointing to a higher open, which is a bit of a fresh start from earlier in the week. >> i want to ask people, don't think about ge so much, think about a small business person who really create a lot of jobs in this country. they're petrified right...
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it would be a big surprise if he's not asked about that. and, you know, the democrats have accused mitt romney of staying quiet on the issue. david axelrod made that much of a statement yesterday in a tweet. the pawlenty campaign also poked him on the subject. the romney campaign has put out a statement, that it would reduce the government to bring the debt under control and does not favor tax increases in order to bring the debt under control as part of any debt ceiling agreement. mitt romney was asked about that today. and ron paul, he has a brand-new tv ad that has come out. eats going to be airing this ad in the important early voting states and the texas congressman and tea party favorite has the ad -- it's essentially called compromises and it really takes aim at budget deals that were cut in the past. basically saying that democrats have raised taxes as part of these compromised deals to bring down the budget deficit in the past and how that's been bad for the country. >> i understand that sarah palin has jumped into the debt limit d
it would be a big surprise if he's not asked about that. and, you know, the democrats have accused mitt romney of staying quiet on the issue. david axelrod made that much of a statement yesterday in a tweet. the pawlenty campaign also poked him on the subject. the romney campaign has put out a statement, that it would reduce the government to bring the debt under control and does not favor tax increases in order to bring the debt under control as part of any debt ceiling agreement. mitt romney...
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big deal for the u.s. if they win. they won last in 1999. >> i guess you say abby wambach is the next brandi chastain. >> now you have abby. >> she is really a big star to watch. i mean, the u.s. team itself, the favorites to win the competition, you know, there is all of this anti-american sentiment around the world, right? but on sunday, this weekend, the entire world and a lot of people in germany are really rooting and cheering for the u.s. to win because it hasn't been a big sport in the united states the way it is around the world. for this team to be victorious is really amazing. by the way, i found a good fact for you, kyra. football/soccer used to be calls pig's bladder because they blew up a pig's bladder and tied it on both sides and started to kick it around. they can use it as a nickname and say we are going to pay a little pig's bladder. just a little useless information feed for the weekend. >> sounds like a rock band more like. we expect live shots from the game, zain. we look forward to seeing you from
big deal for the u.s. if they win. they won last in 1999. >> i guess you say abby wambach is the next brandi chastain. >> now you have abby. >> she is really a big star to watch. i mean, the u.s. team itself, the favorites to win the competition, you know, there is all of this anti-american sentiment around the world, right? but on sunday, this weekend, the entire world and a lot of people in germany are really rooting and cheering for the u.s. to win because it hasn't been a...